The ‘Rigid Plastic Packaging Global Market Share, Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global rigid plastic packaging market, assessing the market on the basis of its segments like material, production process, end-user industry, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Rigid Plastic Packaging Market Price, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 204 billion
• Forecast CAGR (2023-2028): 4.1%
• Forecast Market Size (2028): USD 259.1 billion
The rigid plastic packaging market is growing rapidly, fuelled by the rising demand for rigid packaging in the healthcare sector. Healthcare packaging manufacturers are increasingly switching to rigid plastic packaging that can shield contents against shock, temperature changes, puncture, and bursting. Development of new rigid plastic packaging that complies with healthcare sector requirements and can endure long-term usage, sterilisation, and transportation is anticipated to bolster the rigid plastic packaging market. The use of rigid plastic packaging in the healthcare industry is also expanding as manufacturers increase the selection of packaging styles to incorporate instructions for better treatment regimes.
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The rising demand for bottles, jars, and containers in the food and beverage sector is anticipated to drive the augment of the rigid plastic packaging market throughout the forecast period. Rigid plastic packaging helps food products retain their original shape and texture, by protecting contents against pressure and becoming compressed. Increasing demand for ready-to-eat and convenience foods is surging the demand for rigid plastic packaging in the food and beverage structure. Increasing population and rising urbanisation rates are also heightening the demand for rigid plastic packaging in food and beverages.
Rigid Plastic Packaging Industry definition and Major Segments
Rigid plastic packaging is packaging that is primarily composed of plastic and is rigidly built to better protect goods stored inside of it. The packaging can be made of materials such as polyethylene terephthalate, polypropylene, and high-density polyethylene. The packaging is stronger, sturdier, and heavier than others and is frequently used to wrap delicate objects needing more protection.
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On the basis of material, the market is divided into:
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• High-Density Polyethylene (HDPE)
Based on production process, the market is classified into:
• Injection Moulding
• Blow Moulding
On the basis of end-user industry, the market is segmented into:
• Food and Beverage
• Personal Care
Based on region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Rigid Plastic Packaging Market Trends
E-commerce is growing in popularity among consumers due to the convenience and wide variety of products offered by online stores, which is boosting the demand for rigid plastic packaging to meet the growing needs of the e-commerce industry for sturdy packaging solutions. Increasing sales of larger and delicate products in e-commerce is resulting in a greater need for robust packaging solutions which is expanding the rigid plastic packaging market.
The expansion of worldwide trade in consumer goods is a significant trend driving the growth of the rigid plastic packaging market. Since there is a great danger of product damage during storage and transportation, consumer goods require solid packaging solutions that are both long-lasting and reliable. Manufacturers are investing in good quality materials to build strong packaging to meet customer satisfaction and build a longer wider network. Durable and sturdy packaging is one of the requirements for a good customer base which is pushing the market forward in the forecast period.
Regionally, the Asia Pacific occupies a sizable share of the market for rigid plastic packaging, fuelled by increasing industrialisation and urbanisation. The growing manufacturing sector in countries such as India and China is surging the need for durable rigid plastic packaging, aiding the regional market growth for rigid plastic packaging.
Key Market Players
The major players in the global rigid plastic packaging market report are
• Amcor plc
• Berry Global, Inc
• DS Smith plc
• Klöckner Pentaplast
• Plastipak Holdings, INC
• Pactiv Evergreen Inc
• Sealed Air
• Silgan Holdings Inc
• Sonoco Products Company
• Graham Packaging Company
• Consolidated Container Company
• Reynolds Group Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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